The financial instability made euro fall below $1.30 for the first time since 12 January. Against the pound, one euro bought 83.85 pence, while the pound was worth 1.19 euros.

Last week, 26 European members out of 27 backed new fiscal rules, except UK.

European stock markets were in negative territory on Wednesday. London's FTSE 100 and Frankfurt's Dax were both down about 1% by lunchtime, with the Paris Cac 40 index trading 1.76% lower.